Mar. 27, 2023
March 27, 2023 Hello and good evening, First off, thank you for taking the time to read our comments concerning this very serious potential issue. I am an individual retail investor, taxpayer and American citizen. I am writing to you today in opposition to this proposed rule, specifically the exceptions made for market makers. Previous rules/exemptions before it, delayed reporting, swap deals etc. have all obfuscated true price discovery and have helped contribute to the problems our U.S banking system is currently facing at large. It's imperative we keep the rules fair, assertive and backed with consequences deemed appropriate by the regulators and people of this country. In practice, these market makers do much more than execute trades as I'm sure you are well aware, I don't necessarily mean positive behavior either. Using these exceptions carved out for them to sell things they do not own and manipulate market prices to prevent themselves from losing money. These very same people also own hedge funds in what is quite possibly the most egregious conflict of interest I have heard of (and there are certainly plenty), using their market making powers to further enrich themselves. In what other industry can you sell billions of dollars of something and not deliver the product to the customer? Crazy. No more exceptions, full stop. No more FTDs. No more naked short sales. No more fetishizing \"infinite liquidity\", which is just a euphemism for fabricating assets out of thin air and disrupting natural price discovery via supply and demand. One only needs to look at the current state of banking worldwide to see the natural consequences. These things clearly have not worked for our country's long-term financial health. Please make the right decision and reject this exemption. Thank you.